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Bouncing back! Record day for UK shares - Business News, Business - The Independent

At the end of a tumultuous week for financial markets, the FTSE rocketed 431.3 points to 5311.3 - a rise of 8.8 per cent.

It is the blue chip index's biggest one day rise since being established in 1984, adding £103 billion to the value of Britain's biggest companies.

Financial stocks were the top performing shares, led by Natwest owner Royal Bank of Scotland which posted a 32 per cent rise, Barclays up 29 per cent and Lloyds TSB up 20 per cent.



*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Fri Sep 19th, 2008 at 04:21:48 PM EST
[ Parent ]
Banks urged to 'come clean' over job cuts - Business News, Business - The Independent
Trade union Unite today demanded that the bosses of merging banks HBOS and Lloyds TSB "come clean" over speculation of job cuts as a result of the deal.


*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Fri Sep 19th, 2008 at 04:23:06 PM EST
[ Parent ]
At the end of a tumultuous week for financial markets, the FTSE rocketed 431.3 points to 5311.3 - a rise of 8.8 per cent.

Of course they did.  The Bush administration has just told them that there are no consequences to financial stupidity, and that the public will carry the can for stupid, selfish executives, no matter how insane they have been.

We don't have a market anymore.  We have a welfare system for the rich.

by IdiotSavant on Fri Sep 19th, 2008 at 07:20:37 PM EST
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We don't have a market anymore.  We have a welfare system for the rich.

We've had that for years now. what we now in addition is the blatant, in your face, acknowledgement of it, accompanied by the taunting "What are you going to do about it, suckers? We own you and we can take you down with us"...

And the Shock Doctrine in action.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sat Sep 20th, 2008 at 05:51:23 AM EST
[ Parent ]
But then there are assholes like me WHO HAVE NOTHING TO LOSE and would LOVE to see ... you know where THIS is going.

They tried to assimilate me. They failed.
by THE Twank (yatta blah blah @ blah.com) on Sat Sep 20th, 2008 at 05:59:16 AM EST
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And the Shock Doctrine in action.

That's the first thing that came to mind when Bush came out of his undisclosed location long enough to read a prepared statement about how this guvmint action is necessary to stave off even more dire consequences.  The fix is in.

The Associated Press: Bush to Congress: move fast on financial rescue

As negotiators from Congress and the White House worked feverishly through the weekend on a federal financial rescue package, President Bush asked lawmakers to look beyond partisanship and move quickly on the urgently needed measure.

Bush says U.S. financial rescue needed to prevent worse | Markets | Markets News | Reuters

"Further stress on our financial markets would cause massive job losses, devastate retirement accounts, further erode housing values, and dry up new loans for homes, cars and college tuitions."



We all bleed the same color.
by budr on Sat Sep 20th, 2008 at 12:34:30 PM EST
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Yup, it's the financial version of the Iraq invasion/occupation.  How long till we regret this one?  Any takers?

They tried to assimilate me. They failed.
by THE Twank (yatta blah blah @ blah.com) on Sat Sep 20th, 2008 at 02:57:36 PM EST
[ Parent ]
Calculated Risk: Bailout Proposal
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.


We all bleed the same color.
by budr on Sat Sep 20th, 2008 at 05:05:09 PM EST
[ Parent ]
More like an international casino, where the house always wins.

We all bleed the same color.
by budr on Sat Sep 20th, 2008 at 12:23:38 PM EST
[ Parent ]

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